Now You Know: Americans' median net worth dropped dramatically from 2005 to 2010

Household net worth includes checking accounts, interest-earning assets like savings accounts, equity in property or businesses and other investments.

Discounting home equity, households' net worth actually rose from $13,859 to $15,000 — 8 percent — from 2009 to 2010. Home values were responsible for most of the drop in households' net worth.

Net worth dropped across all education groups, but those with additional education experienced less of a drop and an overall higher net worth. College graduates' net worth dropped 32 percent, but those with just a high school diploma saw their net worth drop 39 percent.

Their net worth was just $42,223 on average, while college graduates had a net worth of $142,518. People with graduate or other professional degrees had a net worth of $245,763.

Percentage-wise, younger Americans saw their net worth drop more than that of older Americans. Those 65 and older had a net worth decrease of 13 percent, while the 35 and younger crowd saw their net worth drop 37 percent from 2005 through 2010.